Swindells Small Business Forum 18th October 2017

Making Tax Digital: Update Personal Tax Account Making Tax Digital for Business VAT returns from April 2019 Nothing else until 2020 at the earliest What do you have to do now? What will you have to do? DECEMBER 2015 MOST DIGITALLY ADVANCED TAX SYSTEM IN THE WORLD LOG IN AND SEE LIVE DATA UPDATED IN REAL TIME

Making Tax Digital: Update Personal Tax Account www.tax.service.gov.uk/personal-account Making Tax Digital for Business VAT returns from April 2019 Nothing else until 2020 at the earliest What do you have to do now? What will you have to do? ACTIVE NOW EVERYBODY HAS THEIR OWN ACCOUNT READY TO BE ACCESSED MY PERSONAL TAX ACCOUNT APP ON PHONE

Making Tax Digital: Update Personal Tax Account www.tax.service.gov.uk/personal-account Making Tax Digital for Business VAT returns from April 2019 Nothing else until 2020 at the earliest What do you have to do now? What will you have to do? ACTIVE NOW MY PERSONAL TAX ACCOUNT APP ON PHONE

Making Tax Digital: Update Personal Tax Account Making Tax Digital for Business VAT returns from April 2019 Nothing else until 2020 at the earliest What do you have to do now? What will you have to do? PROBLEM CHILD INTRODUCED DECEMBER 2015 MANY DELAYS, BASICALLY HMRC NOT READY TOO AMBITIOUS FOISTING IT ON US PRESENT SYSTEM WORKS

Making Tax Digital: Update Personal Tax Account Making Tax Digital for Business VAT returns from April 2019 Nothing else until 2020 at the earliest What do you have to do now? What will you have to do? LOGICAL STEP FOR HMRC? ALL VAT RETURNS ALREADY FILED ONLINE ANYWAY NOT TOO MUCH MORE WORK FOR BUSINESSES

Making Tax Digital: Update Personal Tax Account Making Tax Digital for Business VAT returns from April 2019 Nothing else until 2020 at the earliest What do you have to do now? What will you have to do? SELF EMPLOYED AND COMPANY TAX TO FOLLOW LATER SELF EMPLOYED PROBABLY 2019 COMPANIES FROM 2020??

Making Tax Digital: Update Personal Tax Account Making Tax Digital for Business VAT returns from April 2019 Nothing else until 2020 at the earliest What do you have to do now? What will you have to do? NOTHING TO DO LOG ON TO PERSONAL TAX ACCOUNT, HAVE A LOOK AT THAT?

Making Tax Digital: Update Personal Tax Account Making Tax Digital for Business VAT returns from April 2019 Nothing else until 2020 at the earliest What do you have to do now? What will you have to do? CARRY OUT COMPUTERISED BOOKKEEPING UPLOAD THAT BOOKKEEPING ONCE EVERY 3 MONTHS QUICKBOOKS? EXCEL?

Swindells Small Business Forum 18th October 2017 2019 LONG ENOUGH AWAY FOR HMRC TO MAKE THIS WORK. LONG ENOUGH AWAY FOR IT TO BE SCRAPPED ALTOGETHER. I DOUBT IT WILL!